U.S. companies do stand to lose from Britain's divorce from the EU, a process expected to take two years to negotiate. Fed Chair Janet Yellen is scheduled to speak at an event in Portugal on Wednesday and investors will want to know how she sees the so-called Brexit changing the outlook for the U.S. economy and interest rates.
TORONTO (Reuters) - TransCanada Corp is formally requesting arbitration over U.S. President Barack Obama's rejection of the Keystone XL pipeline, seeking $15 billion in damages, the company said in legal papers dated Friday. Obama rejected the Canadian company's cross-border crude oil pipeline last November, seven years after it was first proposed, saying it would not make a meaningful long-term contribution to the U.S. economy. (Reporting by Ethan Lou in Toronto, Editing by Franklin Paul)
By Sam Forgione NEW YORK (Reuters) - Sterling edged off lows against the U.S. dollar on Friday, recovering slightly from a 10 percent plunge to its weakest in 31 years following Britain's vote to leave the European Union, on reassuring statements from central banks. Sterling was last down 8.1 percent against the dollar, at $1.3662, after touching its weakest since before the 1985 Plaza Accord of $1.3228. Traders said Bank of England chief Mark Carney's comments that the central bank stood ready to provide extra support helped sterling recover.